[Unthinking Majority]

There are gold shops all over China. I always had the thought that moving money through gold could be a feasible option in a pinch. I don't know about the logistics of duties on shipments or transport of gold but it just occurred to me as an interesting notion passing by the Gold shops. Banks in China also sell gold.

I think that one of the reasons gold is popular in countries with lower development or robustness of financial investment opportunities is that gold can be a relatively more rational investment alternative in such places (including China and India).

How do you get around taxes, like say estate taxes? Or otherwise do financial interactions without them being traced by the government? You buy an expensive good like a piece of art or gold etc, give it to someone, then they can sell it.

[Unthinking Majority]

This is also evidenced by the fact that many of the wealthy from those two nations most certainly convert large quantities of their money into USD. Or assets that are valued in USD (like buying up homes in the US)

Does India have capital controls like China does? That's actually the biggest barrier for the RMB to become a true reserve currency. Capital controls make it a poor candidate.

They also like to use western countries to launder their money for that fresh clean-like scent.

[late]

Say, I wandered off for a while, it's been a while, has the dollar died yet?

No?

Fancy that..

[Rancid]

Say, I wandered off for a while, it's been a while, has the dollar died yet?

No?

Fancy that..

I've converted all my money to a basket of BRICS currencies....